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Palm, the company once widely recognized as the leader in portable electronic organizers and communications devices, has lost a huge chunk of market share to Apple devices and smart phones running the Google Android operating system.  Despite disappointing results for the company's heavily promoted Pre smart phone, share prices have risen in anticipation of a sale of the company.  Plenty of shareholders will still take a beating, but one of the biggest investors in Palm stands to make a bundle.   Elevation Partners, a private equity firm  Bono of U2 has close ties to, is believed to have invested $425 million in the company between 2007 and 2008.  The pre-sale rally the Palm shares have staged could put Elevation on the high side of a $75 million gain.  Even if a sale does not play out that favorably Elevation is expected to make out far better than most.  The ownership stake and preferred shares and warranties it is believed the firm has should put it in the best position for a significant share of any profit realized no matter what the outcome. Wall Street Journal